EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 172.67 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 172.13 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 172.698 |
| Next High | 172.67 |
| Current Price | 173.37900 |
| Next Low | 172.13 |
| 2nd Low | 171.112 |
| 3rd Low | 168.456 |
172.67 – 172.698 – 172.598 – 172.13 – 172.451 – 171.112 — 62.491338156815 – 63.770640967169 — 91.324742850684 – 100 – 80.728486954993 – 91.920048227271
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –